After Reading this Report, You’ll Want to Check Your Fraud Defenses

Last October, banks started issuing chip-enabled “smart” credit cards. The idea was to lower fraud in the offline world. But since then, online “card not present” fraud has jumped 11 percent, according PYMNTS.com, co-sponsor of the latest Global Fraud Index.

Alarming news, but there’s hope. If you’re in ecommerce check out Neustar IP Reputation, a service which gives a clear risk score for every IP address behind web transactions. Based on risk severity, you can let a purchase proceed, ask for further verification, or give a flat thumbs down.

In other industries, 27 out of 1,000 web transactions were fraudulent. With experts recommending a layered approach to online fraud detection, now’s the time to take stock of your business’ fortifications.